Unformatted text preview: 2. Complete the following matrix. To do so, ask yourself questions, such as: • What increases the Asset account, a debit or a credit? • What decreases the Asset account, a debit or a credit? • What is the normal balance of the Asset account, a debit or a credit? Account Changes Account Categories What increases the account? What decreases the account? What is the normal balance? Assets Debit Credit Debit Liabilities Credit Debit Credit Equity Credit Debit Credit Revenue Credit Debit Credit Gains Credit Debit Credit Expenses Debit Credit Debit Losses Debit Credit Debit XACC 280...
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- Spring '10
- Double-entry bookkeeping system, Axia College Material, Debit Debit Debit